Analytics

The failure of Ether to make any progress yesterday was further hampered by the drop back in BTC, towards 54k. That move helped to push the second largest cryptocurrency down towards $3,400.

Yesterday morning Bitcoin was under a degree of pressure. The lead cryptocurrency fell back close to 54k as some negative headlines impacted the price.

Bitcoin has just now dropped back below 55k and is hitting session lows after news has emerged that the leading crypto exchange, Binance is to delist all CNY pairings.

Bitcoin seemed to run into a brick wall yesterday afternoon at around 57,500. The failure to push higher eventually led to a rather steep relapse.

Over the course of the morning the one clear takeaway from all the price action in the leading two cryptocurrencies has been the outperformance of BTC over Ether.

Yesterday the boss of the largest non Chinese bank in the world, JP Morgan Chase was on the wires talking about a number of different topics.

Yesterday Bitcoin did consolidate its break above an important and noted technical reversal level. That saw it eventually make a move above 57k.

The rise above a noted resistance level on BTC, at 56,363 has been extended a little more since an earlier update on its progress here earlier today.

Bitcoin shied off a move above 56k on Friday. The price stalled at 56,086. The price action into the wider market close saw it slip back to below 54k.

Since the last update here not that long ago, Bitcoin has just made a move above 55k and then above 56k. The high print so far has been set at 56,080.